Hi
a company can reduce the interest income on surplus amount invested (amount ment for development of property) from CWIP.
What would be the treatment of the INterest revenue if the CWIP is less than Interest Income i.e. after reducing the interest income if the CWIP becomes negative than what should be the accounting treatment??
The interest "revenue", interest "income" should go to the profit and loss account.
Anupam Parashar & Co.
Ghaziabad
CA Final
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Subrahmanyam & Sivudu CA Firm
Hyderabad
CA Inter
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Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
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Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
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CCI
Pro
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